JEFFERSON COUNTY LAND AUCTION – SOLD
PROPERTY DESCRIPTION
Iowa Land Company is honored to represent the Eileen Coffin Farms in Jefferson County, Iowa. The two separate farms consist of 135.01 taxable acres and 72.55 taxable acres, located just 5 and 8 miles North of Fairfield, Iowa. The farms will be offered via public auction on May 4th at 1PM. The farm(s) will be offered in two separate tracts (See farm details below). This is a great opportunity for local farmers to expand their current farming operation and give investors the ability to buy well taken care of farmland acres in an area where farmland does not come available to the public often! The farm(s) breakdown are stated below. The farm(s) are rented for the 2021 growing season and they both are in the first year of a three-year farming lease through 2024. Tract 1 does offer 47.43 CRP acres on two separate contracts as well as a 3.25 acre pond. These farms are well maintained and offer opportunities for the operator, investor, and outdoorsman. You won’t want to miss this one May 4th @1pm at the Activities Building on the Fairfield Fairgrounds in Fairfield, Iowa.
Call Land Agent Jim Davis (641) 777-5484 for more information on this Jefferson County Land Auction.
Tract 1 – 135.01 +/- Taxable Acres
According to FSA 156EZ
- 134.41 +/- Farmland Acres
- 124.15 +/- Cropland Acres
- 47.43 CRP Acres. Total CRP Income $10,490
- 42.3 Acres Enrolled in CP42 through 9/30/2027 @ $225.39 Per Acre or $9,532 Annually
- 5.13 Acres Enrolled in CP4D through 9/30/2022 @186.74 Per Acre or $958 Annually
- 70 +/- Tillable Acres Paying $240 Per Acre or $16,800 (Three-year farm lease in place)
- 64.5 CSR2 Across Entire Farm
- 78.5 CSR2 On The Tillable Acres
- 3.25 Acre Pond
- Potential Building Locations
Tract 2 – 72.55 +/- Taxable Acres
According to FSA 156EZ
- 73.13 +/- Farmland Acres
- 70.65 +/- Cropland Acres
- 63.9 CSR2
- 61 +/- Tillable Acres Paying $245 Per Acre or $14,945 (Three-year farm lease in place)
Auction Location: Jefferson County Fairgrounds (Activities Building)
Sale Method: These farms will be sold on live public auction with online bidding offered as two individual tracts.
Farm Lease: Farm ground is leased through Feb 28th, 2024. Buyer(s) to receive all of 2021. Seller will assign the current farm lease to the buyer at closing.
Survey: A survey will only be provided if needed to provide a clear title. Final purchase price will be sold using taxable acres.
Purchase Agreement: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with the seller’s attorney the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing.
Earnest Money: 10% earnest money payment is required on the day of the auction. All funds will be held in the sellers’ attorney trust account. Remaining balance will be due at closing.
Farm Possession: The farm ground is rented through Feb 28th, 2024. Full possession will be March 1, 2024.
Farm Closing: June 18th, 2021
FSA Information: Call Land Agent Jim Davis for any FSA information questions prior to the auction. Note all FSA information is estimated to the best of seller and Iowa Land Company ability. All information is subject to change.
Mineral Rights: All mineral rights owned by the seller will convey to the buyer at closing.
Bidder Registration: All active bidders must be registered prior to bidding on the farm. All bidders must have a bid card to bid on the farm. Call Land Agent Jim Davis 641-777-5484 prior to the sale if you are unable to attend the sale but have an interest in the farm. We do have phone bidding and online bidding available, ask agents for details. To participate in online bidding, you must register to bid online 48 hours prior to the sale and contact the Land Agent of the sale.
Terms and Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied by the Seller or Iowa Land Company.
Announcements: Information provided herein was obtained from sources deemed reliable, but neither Iowa Land Company nor the Seller make any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, it’s condition, and to rely on their own conclusions. All sketches, dimensions, and acreage figures are approximate or “more or less”. Any announcements made auction day by Iowa Land Company will take precedence over any previously printed materials or oral statements. Iowa Land Company and Seller reserve the right to preclude any person from bidding if there are any questions as to the person’s credentials or fitness to bid.
Brief Legal Description
Tract 1 135.01 +/- taxable acres located in Jefferson County, Iowa, Black Hawk Township, Section 25. Exact legal description will come from the deed.
Tract 2 72.55 +/- taxable acres located in Jefferson County, Iowa, Black Hawk Township, Section 10. Exact legal description will come from the deed
Taxes:
Tract 1 Estimated $3,212 Estimated Annually
Tract 2 Estimated $1,768 Estimated Annually
Class – Agriculture
Tract 1
From Fairfield, Iowa
- Go north on Hwy 1, 7 miles
- Turn right onto 145th Street for one half mile
- Farm will be on the North (left) side of the road
- Property signage will be on the farm
Tract 2
From Fairfield, Iowa
-
- Go north on Hwy 1, 8 miles
- Turn left onto 120th Street for 1.5 miles
- Farm will be on the East (right) side of the road
- Property signage will be on the farm
